Stop Cash Shrink

“Our entire industry is desperate for a solution,” said Will Senn, founder of Urbn Leaf, which operates marijuana dispensaries in San Diego.

“Being a cash business makes it hard to pay taxes (most agencies don’t accept cash), and it’s hard to pay our landlords. We need banks that will let us write checks.”

Last year, Chiang appointed a blue-ribbon committee to look into the problem. The group came back with recommendations on Tuesday. Its report says, “The state taxing agencies should work with the State Treasurer’s Office and financial institutions to contract with an armored courier service that will collect state tax and licensing payments made in cash from businesses in California, including cannabis businesses.”